7 Scams That Target Your Bank Account
Published by: US News
Date: July 23, 2025
Summary
U.S. News highlights several bank-targeting scams draining consumers’ funds, including check-overpayment schemes, charity frauds, online lending scams, and those exploiting peer-to-peer (P2P) platforms like Zelle and Venmo.
Check-overpayment fraud involves scammers sending fake checks, asking victims to refund overpayments before the check bounces. Charity scams exploit goodwill, while malicious lending offers lure people into hidden fees from fraudulent services. P2P scams use urgency and impersonation to coax victims into sending money that can’t be reversed. Experts suggest pausing, verifying requests via trusted channels, and closely monitoring account activity.
Our Take
Fort Knox Defense Against These Scams
Fort Knox, developed by Austin Capital Bank, is a high-security savings account designed to safeguard consumers life savings and protect them from sophisticated fraud and scams. Its advanced security features include biometric verification, soft and hard tokens, proprietary technologies, and a focus on creating intentional friction to prevent unauthorized access and transactions.
Closed‑Loop Protection™
Unlike vulnerable P2P platforms, Fort Knox supports Closed‑Loop Protection™—transfers can only return to verified external funding sources, not to unknown recipients, rendering overpayment and P2P scams ineffective.
What is Fort Knox High‑Security Savings
Withdrawal Delay
All withdrawals are held for two business days. This delay gives users time to pause and verify suspicious refund requests or scam transfers—something impossible on instant P2P apps.
Funds Transfer Timelines and Limitations
Multi-Factor Security Zones
High-value transfers trigger extra verification via Microsoft Authenticator or YubiKey tokens. Socially engineered requests, even if legitimized by a check or charity, cannot bypass this security hurdle.
Configure Security Measures Zones
Biometric Authentication
Every access to the app demands a live CLEAR® facial scan. Even stolen credentials can’t bypass this layer, preventing account takeover.
Why Fort Knox is More Secure
Phishing-Resistant Communication & Lockdown™
Fort Knox never sends links or QR codes, eliminating phishing bait. Suspicious activity triggers Lockdown™, freezing all movement until verified.
Why Fort Knox is More Secure
Final Takeaway: Fort Knox outclasses typical scams—whether check overpayment, charity, lending, or P2P fraud—by creating friction at every step: smart withdrawal delays, secure closed-loop routing, token-based transaction zones, biometric login, anti-phishing communication, and lockdown safeguards. These layered defenses ensure transaction legitimacy, protect funds, and empower users with time and tools to spot fraud.
Quick Breakdown
Get into the article with a quick breakdown of the main topics covered in the article in the Q&A section
Article FAQ
Fort Knox uses biometric verification through CLEAR® to ensure only verified users can access accounts, reducing the risk of phishing attacks.
Fort Knox features Intelligent Closed-Loop™ Protection, restricting deposits and withdrawals to verified sources, and the Lockdown™ feature for suspicious activity.
Fort Knox's Intelligent Closed-Loop™ Protection prevents unauthorized transfers, making it difficult for fraudsters to exploit fake check scams.
The Active Account Cloak™ enhances security by making Fort Knox accounts incompatible with external funds transfer systems, protecting against unauthorized access.
By eliminating the need for physical cards through biometric verification, Fort Knox reduces the risk associated with card skimming devices at ATMs.
Protect your life savings.
Experience the world’s first high-security savings account built from the ground up to keep your money safe and secure.
